The first quarter of 2022 saw a 3.8 percent YoY reduction in stainless steel melt shop output, according to the most recent numbers provided by the International Stainless Steel Forum (ISSF).
However, production of stainless steel climbed by 1.7 percent over the prior quarter.
China produced 8 million tons of stainless steel in Q1 2022, a decrease of 8% year over year. Stainless steel output in Asia, excluding China and South Korea, increased by 4.1 percent YoY to 1.95 million tons.
To 1.86 million tons, stainless steel output in Europe fell by 2.5 percent year over year. The production of stainless steel in the USA fell by 8.8% year over year to 569,000 tons.
The production of stainless steel in other nations (Brazil, Russia, South Africa, South Korea, and Indonesia) climbed by 8% YoY to 2 million tons.
The World Steel Association's affiliated section known as the International Stainless Steel Forum (ISSF) conducts business separately. In 25 nations, the ISSF has 65 members. They collectively manufacture 80% of the world's stainless steel.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.